SAN DIEGO, Jan. 21, 2020 /PRNewswire/ -- Sempra Energy
(NYSE: SRE) has been named one of the "World's Most Admired
Companies" for 2020 by Fortune Magazine. This is the 10th time the
company has been recognized on the list, which ranks global
businesses with the strongest reputations within their
industries.
"It's an honor to be recognized by Fortune Magazine again this
year – a recognition that is truly a credit to our high-performance
culture and the focused efforts of our employees," said
Dennis V. Arriola, executive vice
president and group president for Sempra Energy. "As we continue to
see significant change in the energy industry, our strategy at
Sempra Energy embraces the opportunities that come with the global
energy transition. We're committed to carrying out our vision of
delivering energy with purpose, backed by a strong leadership team
and a united focus among all of our employees to serve our diverse
stakeholders."
Sempra Energy's inclusion on the ranking demonstrates the
company's commitment to purpose-driven performance. The company's
20,000 employees are united in advancing Sempra's mission to be
North America's premier energy
infrastructure company by safely delivering reliable, affordable
energy to over 40 million consumers every day. Since 2018, the
company has focused its portfolio to include transmission and
distribution assets in the most attractive markets in North America, including the LNG export
market. Sempra Energy's public utilities power homes and businesses
in California and Texas. The company also develops and operates
strategic energy infrastructure in the
United States and Mexico,
including liquefied natural gas (LNG) facilities, with a goal of
delivering 45 million tonnes per annum of clean natural gas to the
largest world markets.
Fortune partners with Korn Ferry Hay Group, a global management
consulting firm, to select companies for the annual "World's Most
Admired Companies" list. Fortune considered the 1,000 largest U.S.
companies ranked by revenue for the list, along with non-U.S.
companies that have revenues of approximately $10 billion or more. The rankings are determined
by surveying senior executives and directors from about 680
companies and 52 industries, as well as financial analysts.
The survey asks respondents to rank the companies on the
following topics: quality of management; quality of products or
services; innovativeness; long-term investment value; financial
soundness; ability to attract, develop and retain talent; social
responsibility to the community and environment; wise use of
corporate assets; and effectiveness in doing business globally.
Companies who rank in the top half of their industry are recognized
as the "World's Most Admired Companies."
About Sempra Energy
Sempra Energy's mission is to
be North America's premier energy infrastructure company.
With more than $60 billion in total assets reported in
2018, the San Diego-based company is the utility holding
company with the largest U.S. customer base. The Sempra Energy
companies' more than 20,000 employees deliver energy with purpose
to approximately 40 million consumers worldwide. The company is
focused on the most attractive markets in North America,
including California, Texas, Mexico and the LNG
export market. Sempra Energy has been consistently recognized for
its leadership in diversity and inclusion, and sustainability, and
is a member of the S&P 500 Utilities Index and the Dow Jones
Utility Index.
This press release contains statements that are not
historical fact and constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements can be identified by words such as
"believes," "expects," "anticipates," "plans," "estimates,"
"projects," "forecasts," "contemplates," "assumes," "depends,"
"should," "could," "would," "will," "confident," "may," "can,"
"potential," "possible," "proposed," "target," "pursue," "outlook,"
"maintain," or similar expressions, or when we discuss our
guidance, strategy, plans, goals, vision, mission, opportunities,
projections, initiatives, objectives or intentions. Forward-looking
statements are not guarantees of performance. They involve risks,
uncertainties and assumptions. Future results may differ materially
from those expressed in the forward-looking statements.
Factors, among others, that could cause our actual results
and future actions to differ materially from those described in any
forward-looking statements include risks and uncertainties relating
to: the greater degree and prevalence of wildfires in California in recent years and the risk that
we may be found liable for damages regardless of fault, such as
where inverse condemnation applies, and the risk that we may not be
able to recover any such costs from insurance, the California wildfire fund or in rates from
customers in California or
otherwise; actions and the timing of actions, including decisions,
investigations, new regulations and issuances of permits and other
authorizations and renewal of franchises by the Comisión Federal de
Electricidad (CFE), California Public Utilities Commission, U.S.
Department of Energy, California Department of Conservation's
Division of Oil, Gas, and Geothermal Resources, Los Angeles County
Department of Public Health, U.S. Environmental Protection Agency,
Federal Energy Regulatory Commission, Pipeline and Hazardous
Materials Safety Administration, Public Utility Commission of
Texas, states, cities and
counties, and other regulatory and governmental bodies in the U.S.
and other countries in which we operate; the success of business
development efforts, construction projects, and major acquisitions,
divestitures and internal structural changes, including risks in
(i) obtaining or maintaining authorizations; (ii) completing
construction projects on schedule and budget; (iii) obtaining the
consent of partners; (iv) counterparties' financial ability or
otherwise to fulfill contractual commitments; (v) winning
competitively bid infrastructure projects; (vi) the ability to
complete contemplated acquisitions and/or divestitures and the
disruptions caused by such efforts; and (vii) the ability to
realize anticipated benefits from any of these efforts once
completed; the resolution of civil and criminal litigation,
regulatory investigations and proceedings, and arbitrations;
actions by credit rating agencies to downgrade our credit ratings
or those of our subsidiaries or to place those ratings on negative
outlook and our ability to borrow at favorable interest rates;
deviations from regulatory precedent or practice that result in a
reallocation of benefits or burdens among shareholders and
ratepayers; denial of approvals of proposed settlements; delays in,
or denial of, regulatory agency authorizations to recover costs in
rates from customers or regulatory agency approval for projects
required to enhance safety and reliability; moves to reduce or
eliminate reliance on natural gas; weather conditions, natural
disasters, accidents, equipment failures, computer system outages,
explosions, terrorist attacks and other events that disrupt our
operations, damage our facilities and systems, cause the release of
harmful materials, cause fires and subject us to third-party
liability for property damage or personal injuries, fines and
penalties, some of which may not be covered by insurance (including
costs in excess of applicable policy limits), may be disputed by
insurers or may otherwise not be recoverable through regulatory
mechanisms or may impact our ability to obtain satisfactory levels
of affordable insurance; the availability of electric power and
natural gas and natural gas storage capacity, including disruptions
caused by failures in the transmission grid, limitations on the
withdrawal or injection of natural gas from or into storage
facilities, and equipment failures; risks posed by actions of third
parties who control the operations of our investments;
cybersecurity threats to the energy grid, storage and pipeline
infrastructure, the information and systems used to operate our
businesses, and the confidentiality of our proprietary information
and the personal information of our customers and employees;
expropriation of assets, the failure to honor the terms of
contracts by foreign governments and state-owned entities such as
the CFE, and other property disputes; the impact at San Diego Gas
& Electric Company on competitive customer rates and
reliability of electric transmission and distribution systems due
to the growth in distributed and local power generation and from
possible departing retail load resulting from customers
transferring to Direct Access and Community Choice Aggregation or
other forms of distributed and local power generation and the
potential risk of nonrecovery for stranded assets and contractual
obligations; Oncor Electric Delivery Company LLC's (Oncor) ability
to eliminate or reduce its quarterly dividends due to regulatory
capital requirements and other regulatory and governance
commitments, including the determination by a majority of Oncor's
independent directors or a minority member director to retain such
amounts to meet future requirements; changes in capital markets,
energy markets and economic conditions, including the availability
of credit; and volatility in foreign currency exchange, interest
and inflation rates and commodity prices and our ability to
effectively hedge the risk of such volatility; changes in foreign
and domestic trade policies and laws, including border tariffs and
revisions to or replacement of international trade agreements, such
as the North American Free Trade Agreement, that may increase our
costs or impair our ability to resolve trade disputes; actions of
activist shareholders, which could disrupt our operations by, among
other things, requiring significant time by management and our
board of directors; the impact of federal or state tax reform and
our ability to mitigate adverse impacts; and other uncertainties,
some of which may be difficult to predict and are beyond our
control.
These risks and uncertainties are further discussed in the
reports that Sempra Energy has filed with the U.S. Securities and
Exchange Commission (SEC). These reports are available through the
EDGAR system free-of-charge on the SEC's website, www.sec.gov, and
on the company's website, www.sempra.com. Investors should not rely
unduly on any forward-looking statements. These forward-looking
statements speak only as of the date hereof, and the company
undertakes no obligation to update or revise these forecasts or
projections or other forward-looking statements, whether as a
result of new information, future events or otherwise.
Sempra South American Utilities, Sempra North American
Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities,
Oncor Electric Delivery Company LLC (Oncor) and Infraestructura
Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies
as the California utilities, San
Diego Gas & Electric Company (SDG&E) or Southern California
Gas Company (SoCalGas), and Sempra South American Utilities, Sempra
North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra
Texas Utilities, Oncor and IEnova are not regulated by the
California Public Utilities Commission.
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SOURCE Sempra Energy